Gerber Kawasaki Wealth & Investment Management Purchases 5,640 Shares of International Business Machines Corporation $IBM

Gerber Kawasaki Wealth & Investment Management grew its position in International Business Machines Corporation (NYSE:IBM) by 110.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,757 shares of the technology company’s stock after buying an additional 5,640 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in International Business Machines were worth $3,200,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC raised its position in International Business Machines by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,938 shares of the technology company’s stock worth $571,000 after purchasing an additional 186 shares during the last quarter. Jump Financial LLC bought a new position in International Business Machines in the 2nd quarter worth approximately $211,000. Ieq Capital LLC raised its position in International Business Machines by 2.2% in the 2nd quarter. Ieq Capital LLC now owns 38,617 shares of the technology company’s stock worth $11,383,000 after purchasing an additional 843 shares during the last quarter. Finally, Vivaldi Capital Management LP raised its position in International Business Machines by 11.6% in the 2nd quarter. Vivaldi Capital Management LP now owns 1,017 shares of the technology company’s stock worth $300,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of International Business Machines from $317.00 to $283.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Wall Street Zen cut shares of International Business Machines from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup upped their target price on shares of International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Barclays started coverage on shares of International Business Machines in a research report on Monday, June 1st. They set an “overweight” rating and a $350.00 target price for the company. Finally, Stifel Nicolaus set a $290.00 target price on shares of International Business Machines in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $304.17.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $271.77 on Friday. The firm has a fifty day moving average of $250.02 and a two-hundred day moving average of $270.34. The stock has a market capitalization of $255.43 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.85 and a beta of 0.67. International Business Machines Corporation has a 52 week low of $212.34 and a 52 week high of $332.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.80.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict that International Business Machines Corporation will post 12.38 EPS for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a $1.69 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, May 8th. This represents a $6.76 annualized dividend and a dividend yield of 2.5%. International Business Machines’s dividend payout ratio (DPR) is presently 59.77%.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.